Gold XAUUSD - Rising Wedge

The rising wedge is clearly evident but expecting a contrary to the expected normally bearish immediate breakdown from rising wedges, expecting a false breakout to the upside above the rising wedge to the 1707-1740 levels possibly prior to dropping significantly towards 1585. The current wave up is a wave 5 in a 3 wave intermediate sub sequence, after the short term rally we should have a larger 3 wave asymmetric decline almost a 100 dollar move down at least the 1585 levels.

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